The qualifier you put under here, which is not in your original comment, is if you’re self-employed. What if you aren’t? (Let’s ignore the question of if you should be at that i come.)
Comment on Social Security can be saved. Scrap the cap!
musicalphysics@discuss.online 15 hours agoGo through the irs form here, page 9. Self employed folks making more than the max put in 0 for SS. www.irs.gov/pub/irs-pdf/f1040es.pdf
GreyEyedGhost@piefed.ca 14 hours ago
musicalphysics@discuss.online 12 hours ago
It is a qualifier. The tax code doesn’t exactly make sense but I’d expect if self-employed doesn’t have to contribute why would an employee. Self employed people have to pay both the employer and employee portion, while employees only pay to employee part.
GreyEyedGhost@piefed.ca 10 hours ago
Okay, so you’re talking about something where you have the bare minimum of knowledge. That’s cool, this is the i telnet after all. Not being an American, I haven’t spent a lot of time reading their tax laws or forms. I dont know if that applies to you. But I try to be more informed if I’m going to argue on the internet, and it appears SS is a marginal tax just like many others. In this case, it’s a flat tax up to $184.5k this year, and 0 for income above that amount. So your initial point was also wrong.
musicalphysics@discuss.online 9 hours ago
I have more than the bare amount of knowledge. I correctly conveyed actual tax code for the us. My initial point was not wrong in the slightest and I linked to actual irs tax forms to prove it. You are misinformed and shouldn’t try correcting people on items you clearly don’t understand.
DrPop@lemmy.world 12 hours ago
That’s the instructions for the 1040#es a voluntary form where you estimate you taxes you will owe and make quarterly payments. www.irs.gov/pub/irs-pdf/f1040sse.pdf look at line 8a of this form.
musicalphysics@discuss.online 12 hours ago
Yep. It also shows if you are making above the SS limit then people don’t have to contribute to SS.